Malaysia’s Gross Domestic Product (GDP) is expected to grow 4.3% in 2024, up from the 4% growth expected for 2023. This will mainly be driven by higher global export demand, particularly from the technology sector, according to the International Monetary Fund (IMF).
Recently, the International Monetary Fund has recommended Malaysia implement a more restrictive monetary policy to bring inflation down towards the 2-3% range in the medium term. (Photo:
Kuala Lumpur (VNA)💜 – Malaysia’s Gross Domestic Product (GDP) is expectedto grow 4.3% in 2024, up from the 4% growth expected for 2023. Thiswill mainly be driven by higher global export demand, particularly from thetechnology sector, according to the International Monetary Fund (IMF).
IMF’s Asia Pacific regional studies divisionchief Shanaka (Jay) Peiris said Malaysia is a very open economy, especially inthe export of electrical and electronics (E&E) products. He expectedthat the global economy and export demand to gradually recover, particularlyfor the technology sector to pick up too next year, and that will add to higher growth. On Malaysia’s inflation, he said it has beengradually slowing but the subsidy reforms tabled in Budget 2024 will pose somerisks to that. However, he reckoned that the subsidy reforms will be a"one-off” event and that it would be unnecessary for additional measuresfrom Bank Negara Malaysia (BNM). Shanaka said the IMF’srecommendation for Malaysia in the last report showed that the monetary policy should be restrictive enough to bring the inflation down towards the 2-3% rangeover the medium term. He said that at themoment, interest rates have been increased and inflation has been graduallycoming down. Therefore, maintaining restrictive stance will help bring downinflation./.
Prime Minister and Minister of Finance of Thailand Srettha Thavisin has held talks with Malaysian Prime Minister Anwar Ibrahim to seek ways to enhance bilateral ties.
Malaysian Prime Minister Anwar Ibrahim on October 13 submitted to the country’s parliament a draft budget for 2024 which includes bolder reforms for the economy with new tax measures.
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Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Recently, the International Monetary Fund has recommended Malaysia implement a more restrictive monetary policy to bring inflation down towards the 2-3% range in the medium term. (Photo: 
